13 November 2017 at 07:15 BST

UK courts side with banks over small businesses

The English common law is failing small businesses when it comes to dealing with bank contracts.


A London barrister has accused judges of failing small businesses by regularly siding with the banks in major legal actions. Paul Marshall of Cornerstone Barristers said that small businesses had no recourse as contracts were loaded in favour of the banks. In an article in the Journal of International Banking and Finance Law, he called for small businesses to be entitled to rely on the bank's good faith when entering into an agreement. Currently, the onus is on the purchaser of banking services but he says that this should be changed to include the concept of 'good faith' when a bank enters a contract. 


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